Affected by the same industry price-cutting LED driver IC factory accumulating technology to cut the price by 30%

Taiwan LED driver IC factory accumulated competition by peers to cut prices, so that product price cuts reached 20% to 30%, affecting the company's gross margin performance, the gross profit margin at the beginning of the year still reached 34-35%, to the end of the year, the estimated gross profit margin fell to 30%. The company said that it will carry out process improvement next year to reduce costs, from 0.18um process to 0.13um/0.15um layout; and will be filmed from 8-inch to 12-inch wafers, and will be gradually adjusted next year. It is expected that the gross profit margin will be around 30 next year. -32% level. While optimistic about the continued development of the small-pitch market, the company's shipments will continue to increase next year, and it is expected that revenue will grow by 10% to 12% next year.

Accumulated into an IC design company, the products are mainly LED driver ICs, and the application side is mainly display screens. Other applications include architectural lighting, TV backlighting and general lighting. The proportion of revenue is: display screen accounts for about 90%, LED lighting accounts for about 10%. The company is the world's largest display LED driver IC manufacturer, with a global market share of over 50% and a market share of approximately 70% in the mainland market.

In the fourth quarter, the company entered the off-season of the company's traditional operations. In October, its revenue was 202 million yuan (NTD, the same below), and the monthly decrease was 11.14%. The revenue in November was 200 million yuan, and the monthly decrease was 0.89%. The legal person expects the revenue in December to be about At the level of 200 million yuan, it is estimated that the fourth quarter revenue will be reduced from the previous quarter's double-digit season, and the first quarter of next year will also be the industry's off-season.

The company's battalion sports this year mainly comes from the small-pitch display of the mainland market (pitch (spacing) <6mm). However, due to fierce market competition and peer-to-peer price competition, the price of products is reduced by 20% to 30%, which affects the company's gross margin performance. In the first quarter, the gross profit margin reached 34.91%, the second quarter fell to 32.46%, and the third quarter fell to 31.47%. The legal person expects the fourth quarter gross profit margin to be only about 30%.

In order to improve gross margin performance, the company said that it will carry out process improvement to reduce costs, such as the current 0.18um process, and the future to 0.13um/0.15um layout; and the company is mainly filming on 8-inch wafers, currently testing The 12-inch factory is in good condition and will be gradually adjusted next year. In addition, it is actively developing new products. It is expected that the gross profit margin will be around 30-32% next year.

The company's accumulated revenue from January to November this year reached 2.281 billion yuan, an increase of 23.63%; the accumulated EPS in the first three quarters reached 5.01 yuan, which was better than last year's EPS 3.51 yuan. The company said that the small-pitch display products are still one of the focus of the next year in the market. The overall market volume will expand next year, and it is expected that the accumulation of related products will grow by more than 50% annually. The company also expects revenue growth of 10% to 12% next year.

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